As we’ll discover, Canoo isn’t just different; it’s disruptive, but in a good way. LOS ANGELES, Oct. 20, 2020 /PRNewswire/ -- Canoo Holdings Ltd. ("Canoo"), a company developing breakthrough electric vehicles (EV) with a proprietary and highly versatile skateboard platform, announced today the appointment of Tony Aquila as Executive Chairman as it prepares for the closing of the announced merger with Hennessy Capital Acquisition Corp. IV ⦠This one’s a fast mover, and you’ll definitely want to be on the right side of the trade. HCAC Stock saw the intraday high of $12.10 and lowest of $11.17 per share. In particular, Hennessy is enacting a business combination with Canoo, which seeks to transform urban transportation as we know it. All rights reserved. For latest tech news in your inbox, once a day! The automaker plans to ⦠Put it this way: CEO Ulrich Kranz envisioned the Canoo as a spaceship, and that’s a fairly accurate description of how the company’s vehicle prototypes look. Shareholders will vote on Hennessy’s pending acquisition of Canoo at that meeting. â¦and seems like I ⦠It’s fine if you didn’t understand every word of that description. December 14, 2020. Frequently the merger process can take 3 months or longer, to finalize once a deal has been announced. © 2021 NewAge ADS, LLC. There were quick price pops along the way, but those didn’t last too long. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Copyright © Investors interested in owning QuantumScape can start buying KCAC stock before the merger closes. The closer the merger date, the higher the price will go. If Canoo is an exciting company, then the price action of HCAC stock is equally exciting. We reported a few days back that Hennessy Capital shareholders would vote on the proposed merger agreement with Canoo during a special meeting on the 21st of December. Canoo, a company that is developing passenger and commercial electric vehicles (EVs) based on a highly versatile skateboard platform, is now all set to go public by merging with the Special Purpose Acquisition Company (SPAC), Hennessy Capital Acquisition Corp IV (NASDAQ:HCAC). If ⦠Nothing new happened, no new SEC filing, no announcements, no nothing. The Stock Incentive Plan Proposal: To approve and adopt the equity incentive award plan. 1125 N. Charles St, Baltimore, MD 21201. At $20 common â $11.50 strike price, your warrant is intrinsically worth $8.50 each. On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article. Thatâs 325% return on your initial investment! Item 8.01. (Clue: it has nothing to do with Tony Hawk.). If you’re going to invest in HCAC stock, then you’ll need to learn what a modular skateboard is. Hennessy Capital shareholders have now approved all tabled proposals, paving the way for the closure of the merger agreement with Canoo. quotes delayed at least 15 minutes, all others at least 20 minutes. Hennessy Capital Acquisition Corp. IV stock is now 16.34% up from its year-to-date (YTD) trading value. Canoo’s vehicles will definitely look different, but that’s not necessarily a bad thing. Analysis includes total gross proceeds, announcement deadline date (and number of months left until deadline), % held in trust, and list of symbols for all trading securities included in the unit. A download-able weekly list of all SPAC (Special Purpose Acquisition Company) IPO transactions. Well, the virtual meeting was convened as per the schedule, with the following proposals placed on the docket for deliberation: The Only Thing Certain About the Merger Between Microvast and Tuscan Holdings Corp. (THCB) Is That Nothing Is Certain. Upon completion of the merger, the expiration date of the warrant is reset to 5 years from the date ⦠Arrival Termed One of the Best-Positioned Electrification Plays Currently in the Market as the Company Gears up To Merge With the SPAC CIIG Merger Corp. (NASDAQ: CIIC), Lucid Motors and the SPAC Churchill Capital Corp. IV (CCIV) Are Now Much More Likely To Merge in Light of New Circumstantial Evidence, Lucid Motors Reportedly Intends To Go Public by Merging With the SPAC Churchill Capital Corp. IV (CCIV), Property Solutions Acquisition Corp. (PSAC) Shares Soar Over 20% Amid Reports of a Possible Merger With the Troubled EV Manufacturer Faraday Future â This Tie-up Is Not Without Substantial Risks, Northern Genesis Acquisition Corp. 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Hennessy Capital Stock Offers an EV SPAC With a Difference, Louis Navellier and the InvestorPlace Research Staff, has planned a special shareholder meeting, “unique, self-contained, independently drivable rolling chassis”, the biggest tech revolution of this (or any) generation, 7 Mega-Cap Stocks With Solid Foundations, A Play on the Biggest Scientific Breakthrough of the Century, What Did the Stock Market Do? Simple as that. This top-line metric, however, is expected to swell to $1.43 billion by 2024 and to a whopping $4.12 billion by 2026. With a vote on the Hennessy-Canoo reverse merger coming up soon, HCAC stock is worth considering today. If you’re going to start a position in electric vehicles (EVs) now, you’d might as well try something that’s different from the rest. TRNE announced on August 26 th its merger with the metal 3D printing company Desktop Metal Inc. for approximately $2.5 billion. Importantly, investors should prepare for Canoo to trade under a new ticker symbol, GOEV, on the Nasdaq Exchange. Hennessy Capital Acquisition Corp. (NASDAQ: HCAC) has announced a reverse merger with electric vehicle maker Canoo Holdings. That gives HCAC stock a $914 million market cap on a âsee-throughâ basis. Then came the explosion in November and December. Interestingly, HCAC stock taxied down the runway for many months before the big takeoff occurred. 1125 N. Charles St, Baltimore, MD 21201. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system —with returns rivaling even Warren Buffett. HCAC (EV producer, Canoo/CNOO will use this SPAC for reverse-merger) is the latest EV play in the market and with how is everything going on, we could see $20 in a week from now. With a single monthly payment, consumers will be able to avail of a comprehensive list of perks, including standard maintenance, warranty, insurance, and vehicle charging. Canoo is an unusual name, but then, these are unusual vehicles. Form 8-K will be filed now with SEC. This was a long time coming, as Hennessy Capital first went public in February of 2019 and the business combination with Canoo was announced back in August of this year. This is a stock that went from a real sleeper to a moon shot very quickly. The merger takes off and by redemption date after merger, the common stock has risen to $20. Congratulations @canoo! HCAC stock has since risen to $10.60 per share, up 6% from the companyâs IPO. If you’re ready and willing to take a chance on an electric vehicle company that’s unafraid to transform an entire industry, HCAC stock should be on your radar. 2021 InvestorPlace Media, LLC. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. December 07, 2020 09:00 ET | Source: Hennessy Capital Acquisition Corp. IV. The smaller variant of the new van will offer a cargo space of 230 cubic feet and a maximum range of 230 miles, based on an 80-kWh battery pack. Other Events. wool HCAC/GOEV go down after the merger Advice Request Iâve seen a lot of articles advising to sell before the merger date, but iâve seen some people on here intending to hold way past the merger. Nasdaq Clearly, the bulls are firmly in control of HCAC stock. Hennessy Capital Acquisition Corp. IV (NASDAQ: HCAC) is now merging with Canoo Holdings Ltd., and it will create a reverse merger into a public ⦠How different will Canoo’s debut lifestyle, sport and delivery vehicles be? Article printed from InvestorPlace Media, https://investorplace.com/2020/12/hcac-stock-offers-an-electric-vehicle-spac-with-a-difference/. But Pounce on the Lucid Motors Merger, Top SPAC Merger News This Week: Lucid Motors, EVgo, Joby Aviation and 7 More Hot SPACs, CCIV Stock: Comparing Lucid Motors to Tesla as ‘Merger Monday’ Hopes Soar, How the Internet Sent GameStop Stock Up 1,000% â And Where It’s Going Next, Lifestyle Vehicle: 250+ mile range, charge time of 20% to up to 80% in 28 minutes, top speed of 125 mph, Sport Vehicle: 300+ mile range, 4 or 5 passenger seat capacity, comparatively small footprint, Delivery Vehicle: 200+ mile range, total cargo volume ranging from 6.2 to 11 cubic meters, approximate vehicle weight of 2,600 kilograms. Today, Hennessy Capital announced a special shareholder meeting will take place Dec. 21. You can sell it at market rate, or you can exercise for shares if you want to hold commons. Moreover, in a departure from the industry norms, Canooâs Lifestyle and Sport models will be available to the consumers via an innovative subscription business model. Expected to start retailing in 2022 from $33,000 onward, this van is the second addition to the companyâs product portfolio, following the announcement of a subscription-only van last year. Simple as that. Some posts on Wccftech.com may contain affiliate links. On the other hand, the larger variant will offer 500 cubic feet of cargo space and a maximum range of 190 miles, again based on an 80-kWh battery pack. Jan. 22, 2021, Don’t Buy CCIV Stock Now. All rights reserved. HCAC stock closed lower today despite a new vehicle unveiling from EV startup Canoo. Month after month, HCAC was magnetized to the $10 area. The Business Combination Proposal: To approve and adopt the merger agreement, dated the 17th of August 2020. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. HCAC (EV producer, Canoo/CNOO will use this SPAC for reverse-merger) is the latest EV play in the market and with how is everything going on, we could see $20 in a week from now. Posted by Patrick McLoughlin September 1, 2020 November 24, 2020 Posted in Technology stocks, US stocks Tags: HCAC buy or sell, HCAC IV merger, HCAC merger, HCAC merger date, HCAC merger news, HCAC merger with can, HCAC stock merger Post navigation The Charter Proposals: To increase the number of authorized common shares to 500 million and the number of authorized preferred shares to 10 million; to establish the 2/3rd majority as the threshold for altering, amending, or repealing the bylaws of Hennessy Capital as well as the articles V, VI, VII, and VIII of the charter; to approve and adopt the proposed charter. â Kjetill Stjerne ð¿ (@KjetillStjerne) December 21, 2020. On track to close the previously announced merger with Hennessy Capital Acquisition Corp. IV ("HCAC") (Nasdaq: HCAC) in the fourth quarter of 2020 News provided by Canoo Search for ticker symbols for Stocks, Mutual Funds, ETFs, Indices and Futures on Yahoo! - Special meeting of stockholders to approve proposed business combination with ⦠September 26, 2020 Hennessy Capital Acquisition Corp IV Ltd. (NASDAQ: HCAC), a wholly owned subsidiary of Hennessy Capital LLC, has filed paperwork with the SEC to enter into a merger with the privately owned electronic vehicle maker Canoo. Canoo plans to engage an OEM to produce its vehicles, thereby reducing its CAPEX requirements substantially. 10/20/2020 | 04:02pm EST. As far as financial projections are concerned, the company expects to earn a revenue of $120 million in 2021. Once that occurs, the shares of the combined company will start to trade on the NASDAQ under the ticker symbol GOEV (NASDAQ: GOEV). Finance. That’s the day when Hennessy Capital has planned a special shareholder meeting. The special meeting of shareholders for @Canoo $HCAC confirms all proposals were approved. Crucially, the companyâs skateboard platform offers direct integration of battery modules and features the flattest and lowest profile in the industry, thereby maximizing interior space and lowering costs. On December 7, 2020, Hennessy Capital Acquisition Corp. IV (âHCACâ) issued a press release (the âPress Releaseâ) announcing that (i) its registration statement on Form S-4 (File No. Copyright © 2021 InvestorPlace Media, LLC. Yet, that shell company is bringing a very exciting and unique electric vehicle company to the markets. At that meeting, shareholders will vote on its pending acquisition of Canoo. All rights reserved. Bold and forward-thinking investors should be willing to take a chance on HCAC stock as the potential for disruption and profit are certainly there. 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Is enacting a Business Combination Proposal: to adjourn the special meeting of shareholders for @ $. Capital has planned a special shareholder meeting in your inbox, once a day vehicles! The company expects to earn a revenue of $ 11.17 per share Plan... Tabled proposals, paving the way, but in a good way hcac merger date..., MD 21201 disruption and profit are certainly there shares are up over 1 percent today after the meeting about! In a good way stock now OEM to produce its vehicles, thereby reducing its CAPEX substantially... Others at least 20 minutes trne warrant price jumped 2.5x from $ 0.95 to $ 2.50 meeting of for.
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